Monday, December 27, 2004

Ode on a Chinese Yuan Urn

Evoking Keats, I'd like to recommend two fresh, powerful articles that have recently come to my attention while pursuing a humble understanding of the fascinating Chinese economic phenomenum that is engulfing us all: first, Mr. Jonathan Anderson's skilled 'Yuan-derful: the Chinese currency isn't the threat it's made out to be' (I suggest a Google search; you should find it easily) and second, Foreign Policy's special report for its January-February 2005 issue, 'China Rising: How the Asian colossus is changing our world', with essays by Jonathan Spence ('The Once and Future China'; wow, excellent!), Martin Wolf ('Why China is growing so slowly'), Ashley Tellis, Homi Kharas and Minxin Pei. This special issue also includes a most interesting debate (see 'Clash of the Titans') about the China military/economic geopolitical issue, between Brzezinsky and Professor Mearsheimer from the University of Chicago.

Mr. Anderson, who is UBS's Chief Asian Economist writes in a learned way about the overvaluation, not of the currency itself, but of the exchange rate problem. Simply wise - this article should be a mandatory subject of discussion for Economy students worldwide.

Alas, for those who seek a more romantic, historically appealing vision of China, it pays to skip the Revolution Years and try Isaac Taylor Headland's 'Court Life In China' , courtesy of the Electronic Text Center, University of Virginia Library. It's a good read and provides some nifty details on the Opium Wars and other parts of that complex intrigue background that would later provide the inspiration for Bertolucci's masterpiece, The Last Emperor.

Professor Mindel's website

A Riddle In a Mystery Inside an Enigma, indeed!

Should anyone care to comment on the undervalued yuan's real global implications...?


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